Real Estate Magazine (Maldives) | Issue 1, 2017 by DMM

‫ބަރުދަނުގައި އެންމެ ‪ 5‬ކިލޯ‬ ‫ދަބަރު ނުޖަހާ‬

‫ރައްކާތެރި‬ ‫ގޭސް ހުރި މ ްިނވަރު ފ ްެނ ަނ‬

ARGON

CARBON DIOXIDE OXYGEN ACETYLENE NITROGEN

e d i to r ’ s n ot e

Hello, and Welcome to the First issue of Real Estate Magazine. The Real Estate industry in the Maldives is best described as a foundling industry, having only begun to flourish in earnest after the effects of the worldwide Great Recession. Today, Real Estate is one of the most exciting emerging trends in the country. In this magazine, you will discover all the different aspects of the industry, from technological advancements in construction to simple ways to brighten your home and everything else in-between. Our cover article for this issue is about Damas Real Estate, a thriving business incorporated exclusively to engage in real estate undertakings. We put special focus on DRE’s latest and greatest endeavor, the luxurious One Avenue, which will soon provide homes for 95 families in one of the most premium neighborhoods of Hulhumale’. Within these pages, you will find a trove of information. My personal favorite, a Historical Outlook of Maldivian Architecture explores how our cultural forms of home building have changed over the decades. We also delve into important infrastructural projects taking place in our country today, such as the China Maldives Friendship Bridge, and the first 25-storey building in the Maldives. Our strategy is to provide you, our dear readers, with information about the industry from every facet and every angle, to help you make an informed decision when you move onto the Real Estate Listings. Thank you for reading Real Estate Magazine, and we wish you the best of luck in finding your dream home; it may be just a few page flips away.

Ruba Ali

E d i to r

Control your home anywhere you are!

Dim the lights . Play your favourite tracks Control your TV . Control your home appliances Set the temperature . Arm the security system

Smart living solutions

team

E d i to r

H e a d o f P ro d u c t i o n

Ruba Ali

Ahmed Mulaaq

E d i to r i a l T e a m D e s i g n & L ayo u t

Aishath Shaheen

A dv e rt i s i n g S a l e s

Mohamed Samah

Mariyam Asima

Ahmed Jihan

Aishath Arshi Khaleel

P u b l i s h e d by DMM Pvt. Ltd sales@dmmaldives.com

Disclaimer: While we strive to provide up to date and accurate information with constant care and attention, REM retains no liability or responsibility for quality, accuracy, completeness or legality. All information provided herewith are opinions of the writers based on facts, and legal counsel should be sought prior to any commercial, legal, financial or other decisions made by our readers.

Hasowa Building - 7th Floor Boduthakurufaanu Magu, Maleâ&#x20AC;&#x2122; - 20252 - Maldives sales@dmmaldives.com

co n t e n t

10 DAMAS REAL ESTATE - Dream Homes for Every Family

The past few years has been marked with prosperity for the Maldives in terms of economic evolution....

Understanding Technology in the Construction Industry

Zayan Salih - Director of Damas Real Estate

Maldivian Architecture: A Historical Outlook

It all began with mud, or in the case of Maldives, with...

Zayan Salih is the young and energetic Director of Damas...

Beginning from the earliest re c o rd e d h i s to r y. . . .

Choosing Your Ideal Home

A Touch of Green

Utilizing Renewable Energy for Homes

Finding a suitable place to live in Male’ is pretty difficult....

Sometimes in life when you are feeling down, all you need is a touch of green to b r i g h te n u p y o u r d a y.

Renewable energy sources have reached new heights of...

Financing Your Family Home

Aishath Thazeen Shareef - Interior Designer

A housing loan is one of the only types of liability loan...

“Each interior space has a story to tell. Interior D e s i g n i s e f fe c t i v e l y. . .

MOHAMED ALI JANAH PRESIDENT OF MACI

M r. M o h a m e d A l i J a n a h is the President of Maldives Association...

46 How to Make the Most of Your Space

One of the hardest parts of life in the city is finding...

CHINA-MALDIVES FRIENDSHIP BRIDGE

72 Decorating your home

There are few tasks as daunting in your life as that of decorating or redecorating your home.

Those were the words spoken by President A b d u l l a Ya m e e n A b d u l . . .

80 Maldive Gas – Safety and Convenience for Daily Living

Food and feasting has always been an important part ....

52 The First 25 Storey Building in Male’ City

The capital city of Maldives, the concrete metropolis of the...

84 BUILDING CODES AND ACTS IN THE MALDIVES – Short Overview

Wr i tte n b y : R u b a A l i

The past few years has been marked with prosperity for the Maldives in terms of economic evolution, with important infrastructural projects such as phase two of m a n - m a d e i s l a n d H u l h u m a l e ’ , Ve l a n a I n t e r n a t i o n a l A i r p o r t ’ s e x p a n s i o n , a n d t h e C h i n a M a l d i v e s F r i e n d s h i p B r i d g e , a l l u n d e r w a y a n d p ro g re s s i n g s w i f t l y. T h e country’s objective to increase the economy by 4.7% in 2017 is being assisted by the e m e r g e n t re a l e s t a te m a r k e t o f M a l d i v e s , w h i c h i s a l s o e x p a n d i n g ra p i d l y, t h a n k s i n particular to private companies such as Damas Real Estate Private Limited (DRE), devoted to helping this new market develop and thrive in the Maldives.

DRE – A Tradition of Trust

estate decisions.

DRE is a 100% subsidiary company under the prestigious Damas umbrella, incorporated in 2010

DRE’s hope to become the nation’s most trustworthy

with the sole purpose of engaging in real estate

re a l e s t a t e c o m p a n y i s a l re a d y o n i t s w a y t o

undertakings with special focus on property

becoming a reality, with several projects completed

management, development, leasing, buying and

and more underway, each giving the opportunity

selling.

for consistently increasing returns and growth for stakeholders, while providing Maldivian families

The company’s objective to serve their customers’

with options for lasting, well-designed homes that

needs by producing and managing real estate

are luxurious, practical and convenient.

ventures such as condominiums with lasting value to the community falls perfectly into place with their

DRE has undertaken and completed numerous

mission to mobilize and deliver their knowledge,

projects in Male’, Hulhumale’ and Villimale’, and

resources and capacity throughout the country on

has also commenced prominent hotel and resort

behalf of their customers to enable informed real

development and redevelopment projects.

Isles Residences – Hulhumale’ and Male’ Isles Residence 1 in Hulhumale was completed by DRE with all apartments already sold out, in an effort to alleviate the issue of residential space. The building offers lavish 2-bedroom and 3-bedroom apartments. With the i ncred i b l e suc c es s o f t h e f i r s t b u i l d i n g , I s les R esidence 2 is being developed at H.Karoage at Male’, with 2-bedroom and 3-bedroom apartments available for purchase on DRE’s website, along with 3D rendered photos and architectural designs for the units. Plans for Isles Residence 3, also located in Male’ is currently underway.

Resort Redevelopment â&#x20AC;&#x201C; Helengeli and Maadhoo finolhu Building, managing and maintaining residential condominiums is just one segment of DREâ&#x20AC;&#x2122;s penetration into real estate development in the Maldives; the company takes on projects for development and r edevelopment of island resorts and hotels. OBLU by Atmosphere at Helengeli Maldives is one popular resort for which the re-development of the island in terms of overall progress was overseen by DRE since 2014, with monthly surveys conducted to ensure timely delivery without compromising quality or safety. OZEN by Atmosphere at Maadhoo finolhu located in the same atoll is another resort project that DRE superintended.

Goi ng International – Altair Colombo DRE has already delved into the international market with Altair Colombo, an ongoing iconic development project designed by world-renowned architect, Moshe Sadfie. With panoramic views of Biera Lake and the Indian Ocean, the completed building will boast 68 floors and 400 high-end luxury apartments with eco-friendly living spaces and 40,000 square feet of retail space on the ground floor. DRE is the sales agent in Maldives for Altair Colombo, expected to be completed in 2017, providing Maldivian families with the opportunity to invest in the international real estate market, or to purchase a deluxe secondary home in Sri-Lanka.

Crowning Glory – One Avenue in Hulhumale’

pools with wrap-around gardens and an uninterrupted

W ith several projects completed and more

panoramic view.

underway, the crowning glory of DRE’s efforts can be safely said to be One Avenue, a condominium

One Avenue will also contain two floors of dedicated

located at one of the finest neighborhoods in

parking for their residents, along with 24/7 manned

Hulhumale’ City overlooking the picturesque Yacht

security, concierge, reception and surveillance

Marina and a few minutes scenic walk to both the

systems to ensure that all tenants can come home

ferry terminal and Central Park.

with confidence. A shopping mall is also situated in the complex, serving both retail services and for

Upon completion, One Avenue will consist of 95

recreation and socializing, for maximum accessibility

condos; 13 one-bedroom, 26 two-bedroom and

and convenience. Lush Gardens stretch all the way

deluxe

through the open-air second floor, with a winding

a n d s p a c i o u s w i t h h i g h - e n d b a t h ro o m f i t t i n g s

pathway leading to a play area for children, a

a n d fixtures and roomy kitchens, living and dining

beautiful serene green haven for residents to relax

rooms and balconies. There are also four

away from the humdrum of city life.

three-bedroom

apartments,

all

commodious penthouses that are the epitome of luxury living; three bedrooms with ensuite bathrooms,

One Avenue is a signature experience at the height

walk-in closets, customized interiors and plunge

o f w ellness a nd luxury living w here sa f e ty and

security

paramount,

iconic

peaceful home environment that is the very embodiment of sophistication infused with practicality and a veritable benchmark for residential complexes.

D a m a s â&#x20AC;&#x201C; 4 0 Ye a r s o f C o n s i s t e n t Exemplary Service Damas has a 40-year history, and it is one of the leading business names in the country. Damas caters to total supply solutions of hotels and resorts, the building and construction industry, boat building and power generation sectors,

and

other

industrial

establishments including the fisheries sector; in addition to its nationwide network of business partners across the length and breadth of the country. Damas is one of the leading providers of home furniture, office furniture and kitchen systems and accessories. It is also the authorized distributor for many global brands including Index Furniture, Duroflex mattresses, and Oztiryakiler kitchen systems, Chevron lubricants, Multilac paints; in the Maldives. In addition to its trading, Damas has also ventured into expanding its business portfolio through its sister companies Medica hospital, Intal Hotels, and Damas Real Estate.

Wr i tte n b y : R u b a A l i

It all began with mud, or in the case of Maldives, with coconut fronds. Eventually, we moved our way to using limestone and in due course stones. There’s no clear indication of when concrete was introduced to Maldives, but historical research shows us that the ancient Romans experimented with mixing lime and volcanic rock to construct amazing structures like the Pantheon, which is still one of the, if not largest reinforced concrete dome in the entire world. We moved on from there, constantly evolving and devising newer, more efficient ways to construct taller, stronger and more efficient buildings and structures. Below we will list some of the recent innovations that have reinvigorated the construction industry, beginning with BIM.

What is BIM and why is it so important? Building Information Modelling or BIM emerged in the world of construction as early as 1962 with Douglas Engelbart. At it’s very core, BIM is an intelligent design and modeling software that allows you to design, engineer and build 3D virtual models of buildings, as well as manage and collect building data. The latest advancement in BIM is cost and schedule modeling with 5D macro-BIM, which ‘links the 3D CAD components of standard building information modeling with cost-related information and time constraints’. Users will be able to see, in real-time, how the changes they make to layouts, materials and other elements wo u l d i mp ac t t h e f i n a l a p p e a r a n c e , c o s t a nd co nstructio n schedule o f the building. The precision and scope of the project can be shown with clarity, eliminating potential flaws in the design while reducing the costs that arise due to having to make changes during the construction process.

New and Revolutionary Products ‘Self-Healing’ Concrete An innovative concrete embedded with sodium silicate capsules that rupture and release a gel-like substance that ‘heals’ concrete auto mat i c al l y

when

cracks,

hardening to complete the process.

The aggregate of this concrete contains bacterial spores that fill in any cracks in the material. Image © UCL, Institute of Making/Robert Eagle via flickr

ALON Also

known

Tr a n s p a r e n t

Aluminum, this material combines t h e s t re n g t h a n d d u r a b i l i t y o f aluminum with the crystal-clear clarity of glass.

Affordable star-trek like transparent aluminum could protect phones windows and lenses. Image © extremetech

Aerogel A silica-based substance which is 90-99% air, almost weightless, and can be spun into thin sheets of fabric which can in turn to be used in buildings as insulation. Aerogel has up to four times the insulating power of traditional fiberglass or foam insulation.

Image © Aspen Aerogel Spaceloft by Aktarus Group

3D-printed Houses Construction companies are building houses that can be mass-produced using a 3D printer. Using a mixture of cement and construction waste, t h e re a re h o u s e s t h a t c a n b e produced for under $5,000.

Lewis Grand Hotel Erects World’s First 3D Printed Hotel, Plans to Print Thousands of Homes in the Philippines Next. Image © 3dprint.com

BoralPure Smog-Eating Tile The concrete roof tiles include a photo

catalyst

titanium

dioxide

which oxidizes with vehicle-emitted NOx to remove it from the atmosphere, and the precipitate is then washed away in the rain, while also allowing UV rays to breakdown and eliminate organic substances like mold, and algae.

Smog-Eating Roof Tile From MonierLifetile. Image © remodeling magazine

Tesla Solar Roofs Roofing that converts solar energy into electricity and integrates seamlessly with the Powerwall battery to power homes completely with sustainable solar energy, coming in multiple colors, styles and options.

Tesla’s solar roof Tesla. Image © fortune.com

Z aya n Sa l i h Director of Damas Real Estate Wr i tte n b y : R u b a A l i

Zayan Salih is the young and energetic Director of Damas Real Estate (DRE). Having joined the family business after finishing his studies in 2013, Zayan has been working to establish a strong real estate company within the market, while developing and expanding the real estate industry in Maldives. Real Estate Maga zine sat down with Zayan to discuss the diversifying market, his g ro w i n g c o m p a n y, a n d h i s t h o u g h t s a n d v i e w s o n h o w to m a k e h o u s i n g m o re re a d i l y available for everyone.

What motivates you and excites you about this industry? The nature of the industry itself excites me. Real estate is not, strictly speaking, just a business venture. It is crea ting ho m es for peo ple. W ha t w e a re do ing is c re a t i n g h o m e s f o r f u t u re g e n e r a t i o n s a n d , i n t h e process, also encouraging other people to own a home or find a new investment. We are helping the society by providing a very important resource; the roof above their heads. Itâ&#x20AC;&#x2122;s always exciting to develop something from scratch, and going through the long and often complicated process of building Photographer: Aju

something from the ground up. First we design

it on paper, then visualizations like 3D rendering,

which slows the market down considerably. We are

and then we have to try to sell the idea before the

just newly developing this industry in the country

actual product is developed. A lot of effort goes

so there are several challenges like cultural and

into every step of the process and leads to many

communal problems, and a general reluctance and

sleepless nights for myself and my team. The team

lack of confidence from buyers to invest their

I work with is young and highly driven; I find it very

hard-earned income. Having a home is one of the

motivating and exciting to work with such a dynamic

fundamental necessities for any person, and our

team.

aim is to make it possible for everyone.

Do you have any key mentors or people who inspire you?

What are some of the challenges you face while operating in this industry?

My main mentor is my grandfather, who is also

Real estate, as a concept, has only been around in

C h a i r m a n o f t h e c o m p a n y. H e s t a r t e d o u t i n

the Maldives for less than a decade. We ourselves

construction and he is very passionate about it, and

began our real estate venture around 2012, and

he instilled that passion in me while I was growing

because this industry is so young, there

up. The way he operated lit something inside me,

a r e significant gaps within the legal and financial

and inspired me to follow his example. My dad is

framework, resulting in some difficult situations.

another person who is always giving me guidance,

For example, regulation wise, thereâ&#x20AC;&#x2122;s only a minor

and I have always looked up to him.

p ro v i s i o n a d d e d t o t h e e x i s t i n g L a n d A c t t o facilitate real estate development.

I take inspiration from many people worldwide, most recently, Elon Musk. He is taking a few good

It is a challenge to convince people to invest in

ideas and trying to change the world with it. When

real estate. In more developed economies, land is

someone is so driven to go out and trying to change

a very free moving asset, but here, as a culture, we

the world for the better, it inspires others watching

hold a very emotional attachment to land. Unless

them to do better as well.

we are attempting to develop government owned land, this emotional connection sometimes becomes an issue, and some projects fail even

What makes the Maldivian Real Estate Market different from the Global Market? Real estate in other countries is an asset that appreciates at a steady forecasted rate. Here, there is no dynamic selling and buying of property,

before it begins. Issues sometimes arise after a project is completed too. When there are multiple families owning apartments in the same condominium,

everyone has to agree on certain collective house rules. If one person falls back on the agreed rules, whether it be cleanliness, maintenance or even noise pollution, all these become challenges. I think this can only be resolved with time because condominium living is a brand new idea to our country. The main problem, however, is lack of ease of financing. Currently, financial institutions charge a high interest rate; only people with a higher income rate can afford to purchase homes. To create a dynamic real estate market, everyone needs to be able to afford it within their reasonable lifetime, not only when they are ready to retire. Financing being made more affordable for young people is a key issue that should be addressed.

How do you think we can address these issues and make housing more affordable to everyone? When you look at costs involved with development of real estate, the majority of it is the cost of construction. Importing almost all the materials, and the labor required is what makes the final product more expensive. Maldives is a small country so its not viable to manufacture everything. H o w e v e r, t h e r e a r e w a y s t o r e d u c e c o s t s b y providing incentives to import materials at bulk and reduce the unit costs of construction. Similarly, the inflation of prices of construction materials has been very high for the last 10 years, perhaps up to 25% more expensive, and its important to check how these inflated prices can be reduced.

Once again, financial institutions should provide cheaper financing options. A loan with a 9% interest ra te co mpo unded to 10 o r 15 yea rs be comes extremely difficult to afford for the everyday man. Finding a solution for the financing issue will make this market kick off substantially.

What do you feel is DREâ&#x20AC;&#x2122;s place in the market right now? I am very comfortable saying that we are amongst the top Real Estate companies in the country. There are no quantifiable benchmarks available in the market as of now, but we have always been less interested in quantity and more interested in the quality of the product we sell. This is a trust-based market right now, and we pride ourselves on being trustworthy. One of the most i m p o r t a n t t h i n g s w e f o c u s o n i s g a i n i n g consumer confidence, not just in real estate, but in every business venture of Damas. We take pride in the fact that we are a reputable and reliable co mpa ny rega rdless o f w hich industry we are operating in. We are not selling a product that degrades over time, we are selling long-term assets and the purchase

Photographer: Aju

o f such a n a sset is a big investment f o r almos t everyone. Our personal benchmark of achievement at D R E is tha t up until no w, every pro duct that w e provide is always better than the product we promised our customers with the visual representation, and we will continue towards this goal with all our future endeavors as well.

P h o t o C o u r t e s y o f I r f a n Wa h e e d

Ma l d i v i a n A r c h i t e c t u r e

A H i sto r i c a l O u t lo o k Wr i tte n b y : A i s h at h S h a h e e n

Beginning from the earliest recorded history on Maldivian architecture, Maldivian housing has always been described as simple and functional. We can still see evidence of these standards today; most houses in Maldives are designed prioritizing shelter first, the design and self-identity second. In order to get a clearer picture of the differences between modern architecture and those of our ancestors, we must look further and deeper within our historical records.

F i rs t w r i tte n account s According to Muslim explorer, Ibn Batuta (circa 1300AD) Maldivian buildings were described to be constructed with wood, with raised floor as a way of precaution against dampness.

This is an interesting description of a normal 14th century Maldivian home, as this type of architecture is noted to be missing or at least considered rare by the time French navigator François Pyrard de Laval was shipwrecked here in 1602. According to Pyrard’s description;

‘ T h e ho u ses and building s of the com m o n fo l k a re of coco- wood, c ut f rom the tr u n k s of t he t re es; they are thatched w ith the l eaves f ro m the sam e tree, p laited to g ether double.’ 2 This same description is echoed in T.W. Hockley’s book. The Two Thousand Isles ;

‘ T he p o o re r inhabitants have their ho u ses walled f rom the street w i t h m ats or c adjans m ade f rom pa l m l eaves, a bout six to seven feet in height. Every l i tt l e d welling stands in its ow n comp ound.’ Thatched houses made from coconut palm tree trunks and palm folds were common even until the 1980s. The same could be said about homes being built around a compound, although this tradition has ceased to exist in the capital city and other densely populated islands.

Mr. Hockley also described the house he lived in during his stay in Male’, which was, interestingly, the same house that H.C.P. Bell

stayed in during

his stay in Male’ as well. It was a large house with small, separate buildings built within the compound; each building utilized for a different function. One building housed a central living room with bedrooms attached to it and a small veranda in the back overlooking a separate building for taking meals, a kitchen house, servants quarters and of course a large outhouse or ‘gifili’ in the local

P h o t o C o u r t e s y o f I r f a n Wa h e e d

dialect.

Ibn Batuta in the Maldives and Ceylon – Translated from the French of M. M. Defremery and Sanguinetti by Albert Gray. Chapter: Of the Inhabitants of these Islands and some of their Customs: Description of their Dwellings. Page 08

Extract from The Voyage of Francois Pyrard De Laval to the East Indies, The Maldives, The Moluccas, and Brazil: Page 525

T. W. Hockley was an Englishman who resided in Sri Lanka at the time. He wrote his book ‘The Two Thousand Isles after a brief visit to Maldives in 1926

Appointed Archaeologist of Ceylon and Maldives, Mr. Bell conducted research on the Archaeology and Epigraphy of the Maldives. Many of which were done after his retirement of his official duties in Sri Lanka.

An anthropologist from the USA and the writer of People of the Maldive Islands

Fro m T h atch to Ston e Although many local houses were described to be made from wood or palm folds, it should be noted that homes made from stones (specifically limestones collected from the ocean) are peppered throughout history. Pyrard confirmed that only the Royal Family and a few affluent locals built their homes with stone, whereas by the time Bell visited Maldives in 1879, he found a single house constructed from coral stone, apart from the Royal Palace. Nearly a century later, during Clarence Maloneyâ&#x20AC;&#x2122;s

visit Maldives in

mid-1970â&#x20AC;&#x2122;s, he found most houses in Maleâ&#x20AC;&#x2122; were built using mortar of slaked coral lime. He stated that houses built from coral stone were increasingly popular on some islands, whereas in others, only one or two elite families could afford masonry houses. He described the construction of such houses to be painstakingly slow, requiring great labor and expensive raw materials. According to Maloney, some locals would build their stone homes one wall at a time, depending on their level of income, leaving some houses

Photo Courtesy of Ismail Miglal

semi-finished for long periods of time.

Moder n izati on Fast forward to present times, not only has our culture drastically changed, but our homes have also transformed to an almost unfamiliar landscape. Gone are the days of thatched huts and limestone cottages.

Maleâ&#x20AC;&#x2122; is a

panorama of towering buildings, economic growth and modern architecture progressing at a breathtaking speed. We now have homes representing various westernized styles and designs. One can only guess where we will be 10 years down the line in terms of modernization of local architecture.

P h oto C o u r te s y of K- P a r k Re s i d e n c e

Wr i tte n b y : M a r i y a m A s i m a

Finding a suitable place to live in Maleâ&#x20AC;&#x2122; is difficult; the market for real estate has been stretched thin; the demand continuous to rise while the supply constantly dwindles. The real estate market has now experienced a small boom with new apartment complexes, and the market now offers a wider variety of choices. So how does one decide upon the ideal home? The first consideration is, funny as it sounds, location, location, location. There are multiple of locales you can choose from and multiples of leasing options. For this article, we are going to highlight on a few purchase options available.

L ux u r y L i v i n g in Hulh umale’ There are a variety of purchase options available through the Male’ area. The fastest growing of these are properties in Hulhumale’; the most premier of those currently available is the Platinum Residences. With their slogan “Luxury Living made Affordable”, Platinum Residences offers you the option of buying your dream apartment. Mostly consisting of three to four bedroom apartments, the complex is located in the heart of the Hulhumale’ and offers an unbeatable panoramic view from every angle. The first phase of the apartment complex has already been completed and they are offering 52 units in their second phase.

Your Have n i n Ma le â&#x20AC;&#x2122; C i ty The option of buying an apartment in Maleâ&#x20AC;&#x2122; is also beco ming mo re a ppea ling w ith inter na lly re owned companies like Tata announcing their upcoming real estate projects. They have announced the launch of two new apartment complexes to be developed. The complex at Odeon named Luxa One will offer fifty four apartments, while their complex at the Nadhee will o f f e r s e v e n t y t w o a p a r t m e n t s . A l l t h e s e a r e three-bedroom luxury apartments.

Do Your Re se a rch With the market as it is, it is easy for a layman looking f o r a go o d ho me to be co nf used. O nce you have decided on where you want to live, it is important to do research, especially on credit terms and mortgage prior to buying your dream home. For those who would like to get assistance on their decision, the real estate agents at the complexes can provide you with all the information you need. Make sure to have a list of questions ready when you speak to them. One very important question to ask would be about the upkeep and maintenance of the apartment building. Consult with a lawyer before signing your final agreement to make sure you are getting exactly what

Photo Courtesy of Nasandhhura

you want and nothing less.

Fin an c ing Yo ur

Fa m i ly H om e Wr i tte n b y : R u b a A l i

A housing loan is one of the only types of liability loan that a person would take on willingly and happily. However, it was not always easy to g e t a l o a n s u c h a s t h i s , d u e t o b o t h personal financial conditions as well as the conditions set by the lending financial institution. Any financial institution, regardless of whether it is a bank or any other facility, has a set standard of rules and regulations that protect the borrowers as much as it protects the institutions. HDFC is a specialized housing finance institution, concentrating on housing loans for families rather than individuals. In this article, we will detail how to go about financing your family home with HDFC.

T he Le n d e r – HDF C

repayment capabilities, and reducing the singular

Interest Rates: The first and most important thing to understand while applying for a loan is about interest rates. Each institution offers a given

financial burden on a person, and allowing for the la rger sums required f o r ho using to be borrowed.

lending rate (i.e 8%) which is included in your loan throughout the repayment period.

The Borrowe r – You

This ties in with Cost of Funds:

if the cost of

Following are some important questions that you

borrowing is reduced for HDFC, the cost of lending

may need answered before applying for your

also lowers and they are able to loan more money

housing loan at HDFC.

to more customers, or to customers at a lower rate. The instrumental point is that HDFC also depends on the repayment of the existing base

What is checked during the screening phase?

to have a better credit score in front of the banks

There are five C’s that are checked during a credit

who are in turn lending to them. Currently, the

check before a loan is offered.

percentage of non-performing loans at HDFC is less than 1%, which allows them to lend more, and at lower interest rates. The Repayment Period can be up to 20 years, depending on the financial capabilities of the borrowers, and are divided into Equal Monthly Installments or EMI. HDFC requires 20% of the total amount to be provided as collateral or owners’ equity. The remaining 80% of the loan will be provided by HDFC. HDFC releases loans for three categories: home purchase (which includes flats, apartments), home renovation loans for preexisting owned homes or apa r t ment s, a nd f o r h o m e c o n s t r u c t i o n . The income of the family is pooled to create better

Capacity This is the most critical of the Five C’s of credit. Income capacity, income continuity, consistency and frequency will be considered, along with other debts and expenses to calculate your propensity to repay. Character This includes the person’s character, credit history and previous loans. Clean financial records for the past six months are important. Educational qualifications, steadiness of employment and sta bility o f pla ce o f residence ma y als o be considered. Collateral This is additional security provided to the lender. The subject property itself and its value, location and characteristics can be considered as security,

but collateral may also include outside parties

policy of giving lower rates for pure housing

who will guarantee the loan.

options (if the family will live there themselves) versus higher rates for commercial use (with a

Capital

cafĂŠ or mostly to be rented out).

The amount of money that you have invested in a property. Otherwise known as a down payment,

Lower rates are also offered to those utilizing the

HDFC requires 20% of the total loan amount as

pension fund, or for those using social schemes

ownerâ&#x20AC;&#x2122;s equity.

which are offered in collaboration with the Government.

Conditions - This refers to the intended purpose of the loan (i.e buying an apartment), and includes important details such as the interest rates and principal amounts. It may also include the national, industry level, and local economic situation.

What is a predicted timeline from application to receiving a loan? The first step is application: if all the required documents are present the loan application will be accepted, and the documents will then be verified within one week.

Is there a set time limit for repayment? The maximum repayment duration given is for 20

In the second week, an interview will be held

years. If the family can afford to repay at a higher

between the borrower and lender to discuss the

rate, then it can be a repayment period of 10, or

terms. Transparency is crucial; why the loan is

even 5 years.

being given, the amount, the repayment terms, the interest rates, etc.

However, certain points, such as the age of the borrowers will be considered when setting

I n t h e t h i rd w e e k , c re d i t e v a l u a t i o n o f t h e

a repayment period. For example: a man of 65

borrower will be conducted.

years cannot get a loan for 20 years, as it is highly unlikely that he can continue repaying for the

Within a month, given that no further complications

duration of the loan.

arise, HDFC will inform you whether the offer is a ccepted o r rejected, o r w hether there is a different loan they can offer.

Do the interest rates differ from case to case? Financial institutions and lenders usually calculate the risk of repayment, the history, the relationship and give better rates. HDFC has the

Information provided by Mr. Mohamed Shafeeq Head of Finance, HDFC

Mohamed Ali janah P r e s i d e n t o f MA C I Wr i tte n b y : R u b a A l i

M r. M o h a m e d A l i J a n a h i s t h e P r e s i d e n t o f M a l d i v e s A s s o c i a t i o n o f C o n s t r u c t i o n I n d u s t r y ( M AC I ) a n d t h e C h a i r m a n of H ote l s a n d Re s o r t s Co n s t r u c t i o n ( H RC ) . A t r u e l e a d e r i n t h e c o n s t r u c t i o n i n d u s t r y, w e s a t d o w n w i t h M r. J a n a h t o g e t h i s o p i n i o n on some important aspects of the Construction industry in the Maldives.

Being President of MACI MACI was founded in 2001 and started functioning as a full-fledged association since 2003; this is our 15th year in operation. Apart from myself, my colleague Abdulla Mohamed from Amin Construction had most years as president, and two other presidents have served single terms. The construction industry is the second largest industry in the country, contributing approximately 8.5% towards the GDP of the Maldives. Being the President of the Maldives Association of Construction Industry which represents the major part of the industry is not an easy job. I have been consecutively elected and this is my sixth term as the President. On the one hand, this shows the faith that the key players in the industry have in

me, on the other hand it also comes with a whole lot

proud of. Unlike many island nations that use

of responsibility.

foreign builders, we were able to catch up with the growth rate and produce outstanding builders in this country. I was also part of this, and I thank

Maldives Economy

Allah for showing me the path, to be one of the

As you know, the Maldives’ growth rate over the last

partners of growth in this industry.

4 decades have gone from very minimal to double digit growth until the late part of the 2000’s; due to global economy situations it dropped down to

Obstacles

single digits in the late part of 2000’s. However, our

We had a very successful meeting in 2007 where

economy is still growing better than many in this

we discussed the constraints in the industry such a s

part of the world.

raising capital for the companies and cost of finance, because we are, mostly, treated as people who should have all the resources to deliver a project.

The Market in Maldives

To have that capacity you need to be very financially

The construction industry is a frontline industry;

strong, which has been a difficulty for most fledgling

whatever happens to the economy, we are the first

companies in this industry.

to get hit and if the economy improves we are the first to benefit on that. When the economy flourishes,

Geographically, this country is spread over islands

we get more projects as people want to build, and

and as contractors; logistics is both the main

vice versa. My rule has been to help the industry

challenge and greatest obbstacles in this country.

streamline the gaps that have not been filled over

To succeed in a project, you need a sound logistics

the years.

plans and unless it is properly followed, failure is guaranteed.

The History of Construction Just like the tourism industry, the growth of the construction industry was the hard work of several young enterprising people in the country. We have our own founding fathers who used methods and brought in technology to this country that wasn’t present before. And you can see 95% of the buildings in the country have been constructed through Maldivian companies which is something I’m so

There are a few reasons why I say this. First of all, the country isn’t ready for this kind of expansion so the resources that are available are limited and consequentially costs are very high. On the other hand, investments in the logistics sector from the private sector are also not ideal. Some contractors have their own logistics plans with their own vessels and vehicles but not every company can afford this. I feel there is still a large void to be filled that would help projects to be carried out

at lower costs. More young people in the country

supply and demand should be balanced out, and

should enter the business and form joint ventures

unless that happens we would fail. I think the careful

with foreign companies who have the capacity.

approach of HDC and the government is smart.

Public Sector

The Real Estate Industry

Most public sector infrastructure projects come

The real estate industry is now coming out as a major

from the Government; MACI has always maintained

player. Few years back, we weren’t even aware of

a good relationship with any Government in place

what real estate was and now, we are on par with

as we believe that is the way forward. We shouldn’t

many cities and even better than many cities in this

be a competing force, rather a complimentary

region. We Maldivians are very sharp at what we

f o rc e f o r t h e e c o n o m i c d e v e l o p m e n t i n t h e

do, and we also go to the limits to make it

country, and we should have a positive attitude

perfect. Our buildings don’t remain half-done, and

and this has been the policy of my presidency in

w e l i k e q u a l i t y. M a l d i v i a n s w o n ’t a c c e p t j u s t

the association as well as other presidents. For a

anything. I think the industry is coming up well, the

small country, such challenges should be met with

real estate industry will be a force to reckon with,

dialogue and not confrontation and this is the path

and when we discuss what parts of the economy is

we have taken.

important I think Hulhumale’ will be full very soon. It is a dream for most Maldivians, not just residentially but commercially as well. W ith the airport now

The China Maldives Friendship Bridge

being further developed, you will see more financial

I believe infrastructure is the paramount thing

institutions coming in.

required for such expansion and the bridge is the connection to this. The bridge, once it is completed,

Maldivians have always adjusted to things. Look at

will change the dynamics of the Maldives economy

the seaplane industry, which came up, and is now

especially the greater Male’ area. I would like to

the largest in the world. We are very creative people,

call it the super corridor of the greater Male region

and you couldn’t even imagine today what we

because it will open up several new avenues. I’ve

could do. I have high hopes for the future.

always been a supporter of decentralization; this could be politically a damaging thing to say, but for someone who loves the country, someone who dreams big for this country, the idea of urbanized capitals around the country in limited numbers is ideal. I think a lot of people would move with the facilities in place, and we need the numbers. The

Inside Plus is one of the leading interior design and architecture firms in the Maldives. We offer aesthetically pleasing, innovative and functional design solutions for residential and commercial projects. We have a highly qualified team of professionals that work closely with our clients to provide a truly personalised design service. Call our hotline +960-919-7587 for your free design consultation.

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Wr i tte n b y : M a r i y a m A s i m a

One of the hardest parts of life in the city is finding a decent apartment or house. Most of the places on offer are usually on the smaller side and the rest end up costing an arm and a leg. And even if you do have your own place, you often find yourself wanting that ever elusive storage space. As with everything else, there are some easy tricks you can use to make the best of whatever space you have available to you.

Whatâ&#x20AC;&#x2122;s under your bed? Your bed, no matter how small, tends to take up a lot of space. Even a sinate bed provides ample space for storage. Find some inexpensive plastic boxes that you can fit in the space between your bed and the floor , and use them for whatever mish mash of stuff you need to store-away. Some beds on the market these days even come with drawers for use. Or you can take things to the next level by custom building your own loft bed. Not only will you have your own hidey hole, but you can use the space under your bed to build a walk in closet or turn it into your own home office.

Pro tip: Get rid of your headboard and use the wall to make shelves for books or knick-knacks.

All the nooks and crannies There usually is more space in any given place than we realize. It might be completely overlooked. For example, the space under the stairs or above your cupboards. Take a good look around your house and identify these areas. It might also be a useful idea to bring a friend over when you do this. A fresh pair of eyes is more apt at locating these hidden gems. Once youâ&#x20AC;&#x2122;ve identified them, plan out on how best to utilize these areas.

Create the Illusion of space There are several ways you can go about doing this. First off, you can change the color of your rooms. Paint your walls in neutral hues or cool pastels like blue or green. This does wonders for a cramped room, making it seem lighter and airy. If the room is a kitchen then think about painting any dark cabinets or cupboards in white. The way a room is lit contributes a lot to the ambience

Pro tip: Find furniture that wo nâ&#x20AC;&#x2122;t dwarf the room. Small pieces for small rooms.

too. If your room has only one light source, then change it up. Get an interesting floor lamp or place a small table lamp and see how that livens up your room. Try hanging fairy lights from your ceiling in an interesting pattern. One of the most important tools in creating the illusion of space is a mirror. Large standing or hanging mirrors w ill ma ke a ny ro o m lo o k a nd f eel mo re spacious . Furniture with glass or stainless steel surfaces also help in this illusion. One of the best ways to use a mirror is to hang it across from a window. This helps open up the room more, fill the room with natural light.

Hook it up When trying to save space, hooks are your new best friend. Use them inside your closet to hang up necklaces, ties, scarves etc. Use them on the inside of your kitchen cupboards to hang small utensils from, or an unused piece of kitchen wall for pots and pans. Or on the inside of your front door to hang up umbrellas. The use of these are as limitless as your imagination. If you are looking for more ideas on how to make the most of your space, just hop onto the internet where there is an endless supply of DIY tutorials to help you declutter and organize your home better. You can find DIY and pro-tips from designers on making your cave feel like a cavern. Just listen and watch the pros at work and let your imagination run wild.

P h o t o C o u r t e s y o f IGMH

Wr i tte n b y : A i s h at h A r s h i K h a l e e l

The capital city of Maldives, the concrete metropolis of the island paradise, is where the urbanization of the country has hinged on for several decades. W ith a growing population and increasing demand for new facilities and services; its buildings now have to be constructed higher as the area for Maleâ&#x20AC;&#x2122; is a mere 5.8 kmÂ˛. However, regulations restricted the construction of a building beyond 10-storeys at itâ&#x20AC;&#x2122;s highest, up until September 2016. Today, buildings can be constructed up to 25-storeys. While this opened doorways towards construction of higher buildings, the top three t i l l today remains at 14 to 16-storeys inclusive of its basement structures, namely; Hotel Jen by Shangri-La, a private residential building in the Henveyru district and Velaanaage Building.

Commencement of work on the tallest establishment in Male’.

“So G o d w i l l i ng we w ill be g etting a very tall bu i l d i ng t hat that houses a m odern, s tate- of - t h e- a r t diag nostic Centre as well as nu m erous other facilities, ” These were words spoken by President Abdulla Yameen Abdul Gayoom during a ceremony attended by leading officials of the government on 5th June 2016 when he officiated work on the 25-storey building which would become the tallest establishment in Male’, Maldives. In an effort to symbolize our aspiration for a better

An answer for Medical Treatment Overseas The ‘Travelling Abroad Survey’ conducted in 2015 by Maldivian Monetary Authority (MMA) concluded that 58 percent of locals travel abroad for healthcare purposes. While this is a high percentage, t h e average expenditure for each trip varied from USD716 – USD2,149 respectively, amongst the most visited countries. The development of this establishment would be an answer to the worries and cost of seeking medical treatments abroad, as the new building would proffer all heath care related necessities, making it a ‘revolutionary’ hospital for the island nation.

life and the development of the health sector in the country, the establishment is built to host the

Developing the health sector.

country’s key government hospital; Indira Gandhi

President Yameen has stated that the aim of this

Memorial Hospital (IGMH) as well as the ‘National

Administration is to work towards achieving key

Diagnostic Centre’.

milestones in the Health sector, as one of the most significant sectors in Maldives.

Scarcity of space and healthcare services to be solved While IGMH currently faces major setbacks due to shortage of space, the total bed capacity of the hospital is estimated to amount to 500 while the new building has a projected capacity to serve 130,000 people simultaneously; equivalent to a fourth of the population. As the new facility would require a larger workforce, the work in some units of the hospital would be commenced in collaboration with foreign experts until locals are fully qualified to take lead.

The Maldives Government is giving utmost importance to the project; the USD 140 million project has been commissioned to Singapore’s renowned Chang Hua Construction. Health Minister Abdulla Nazim further detailed that the cost is inclusive of the interior and physical construction of the building while the necessary equipment would be sourced through proper channels. Work on the building is being completed ahead of schedule, and the Ministry of Health has forecasted its completion by September 2018.

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Wr i tte n b y : R u b a A l i

Renewable energy sources have reached new heights of innovation in the past decade with more companies becoming aware of the necessity to utilize clean energy sources and technologies. A noticeable amount of companies is also adding green initiatives to their corporate social responsibility components. This is especially true for mindful companies involved in producing a large carbon footprint such as the aviation industry or technology companies which now account for almost 2% of global greenhouse gas emissions. The use of renewable energy and the act of reducing carbon footprints is not limited to companies and corporations. Individuals can also reduce their own carbon footprint while taking advantage of the availability of free, clean and unlimited energy. Being placed in the middle of the equator and being an island nation comprised of atolls gives Maldives three distinct sources that can be utilized to produce massive amounts of renewable energy.

Sunshine All Year Round Maldivesâ&#x20AC;&#x2122; famous tagline that makes it a haven for sunseekers and travel enthusiasts also makes solar energy a lucrative option for any household. It is hot all year round, making air conditioning almost a necessity for a comfortable life. Solar Air Conditioning is not a brand new technology; it has been tried and tested over the years and is now a reliable method, with fairly easy setup and upkeep. Using the heat from the sun to cool your homes might seem strange at first, but the thing to keep in mind is that an air conditioner is just another mechanical

item that uses electricity. Generating electricity

a single w ind turbine co uld genera te e nough

via solar power for air conditioners could easily

electricity to make a sizeable dent in your carbon

reduce electricity costs and carbon footprints by

footprint contribution.

an incredible amount seeing as air conditioners are usually the biggest electricity guzzlers in any

Surrounded by the Sea

home in the Maldives. Hydrokinetic Energy, or marine power is the technique This system uses hot water produced via the sun in

by which clean energy is harvested through ocean

the air conditioning system, with the added benefit

w a v e s , t i d e s , s a l i n i t y a n d o c e a n t e m p e r a t u re

of also being able to use the same hot water for

differences. This technique is one of the oldest

showers as well.

renewable energy methods used in the world, and it is so powerful that it can potentially power

You could also try building your own Solar Oven,

homes, transport and even entire factories. It is

which works by trapping sunlight to heat food.

also the most used renewable energy source in

The advantages are that it is fairly easy to build

the world as of now, responsible for over 15% of

and replace.

the worldâ&#x20AC;&#x2122;s renewable energy consumption.

The Ever Present Crisp Breeze

The risk of harming marine animals by placing energy-generation devices in the sea is one potential

Being a low lying island nation gives Maldives

r i s k t h a t m u s t a l w a y s b e c o n s i d e re d p r i o r t o

the advantage of constant substantial wind at a

harnessing the vast energy available from the sea.

practical height that can be utilized thoroughly with

H o w e v e r, p r o p e r l y i n s t a l l e d a n d o p e r a t e d

wind turbines with lower operating wind speeds.

hydrokinetic systems can eventually be enough to

Turbines have the advantages of having almost no

power entire homes, and you never run the risk of

operating costs once installed, and the Maldives

interrupted power generation which is seen with

is already taking advantage of this with the Gaafaru

Solar energy when the sun isnâ&#x20AC;&#x2122;t shining, or with

wind farm project.

Wind Energy on days there is no breeze.

Wind turbines are less ideal for populated areas

Hydrokinetic systems come in several forms, such

due to the space requirement, the fact that the

as tidal energy or wave energy or hydropower.

sea-breeze rarely reaches inside islands with

Channel systems are the easiest to utilize in the

multitudes of tall buildings, and because of the

Maldives, funneling waves into reservoirs to

constant complaint of noise pollution. Regard-

generate energy. Hydroelectric turbines can be

less, in a Maldivian island where the breeze blows

purchased, or you can build your own hydroelectric

all the day long straight from the Indian ocean,

generator at home.

Photo Courtesy of Gasfinolhu Island Resort

The general awareness of the Maldivian public on issues such as global warming and related fear of sea level rising is helping the message of reducing the use of fossil fuels resonate more and more every day. While not as aware or advanced as some countries such as Iceland or Costa Rica, the Maldives has also been experimenting in renewable energy over the last decade. According to the Ministry of Environment and Energy, pilot projects have been carried out and hybridized systems consisting of combinations of solar, wind, diesel and LPG have shown success in electricity generation that could be implemented. Similarly, more households are using photovoltaic solar power systems. The opening of Gasfinolhu, the worldâ&#x20AC;&#x2122;s first 100% renewable energy powered resort set a new standard for green technology in the world, and was an important milestone for the Maldivian people.

Wr i tte n b y : M a r i y a m A s i m a

Sometimes in life when you are feeling down, all you need is a touch of green to brighten up your day. There are many advantages to growing a plant in your home. Plants help liven up your rooms and releases oxygen, which helps clean out toxins in the air. They also help balance out the humidity levels and filter germs from the air. Think of the plants as natures air filters providing you and your family with breathable fresh air.

Growing plants in your home have other advantages too. Plants such as aloe-vera have medicinal properties, and a small herb garden in your home can bring beautiful new flavors to your cooking. Growing plants such as lavender or mint also helps keep your h o m e s m e l l i n g f re s h a n d p ro m o t e s a s e n s e o f wellbeing. For those born without a green thumb, here are a few tips on how to keep your plants alive and flourishing: Most plants tend to thrive in a location that receives a lot of sunlight and is warm throughout the day. Balconies, window sills or shelves near windows work best. But do not despair if you donâ&#x20AC;&#x2122;t have a sunny window handy; grow lights are the answer to your conundrum. They help maintain optimal light and temperature conditions for plants regardless of outside weather or indoor conditions.

Some plants require well draining soil. You will either need a pot with holes in the bottom or pile up some stones in the bottom of your pot before adding soil (so that the water can drain through the stones). If you go for one with holes, make sure to put a shallow drainage container under the pot so the water does not drain onto your floor, shelf, or windowsill. Find out what kind of care your plant will need when you are buying it. Some plants need to be watered twice a day while others once in two days. Also make sure to purchase any potting mix or fertilizer your plant needs (you can also make these at home if you want to go the organic route).

If all else fails, and your green thumb just isnâ&#x20AC;&#x2122;t working, then get a cactus. Cacti, and some others like the jade plant donâ&#x20AC;&#x2122;t need a lot of attention but thrives as long as it gets enough sunlight and you remember to water it once in a while.

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A i s h at h T h a z e e n S h ar e e f

Interior Designer Wr i tte n b y : R u b a A l i

“Each interior space has a story to tell. Interior Design is effectively telling that story through design. A good design always evokes an emotion, a feeling , a c o n n e c t i o n , ” s a y s T h a z y, t h e F o u n d e r & D e s i g n D i re c to r o f t h e c re a t i v e fo rc e known as Inside Plus; an Interior Design & Architecture Firm based in Male’, Maldives. Inside Plus is making its mark in the field of Interior Design in Maldives t h a n k s t o a p o r t f o l i o f i l l e d w i t h a e s t h e t i c a l l y b e a u t i f u l a n d f u n c t i o n a l s p a c e s . We met up with Tha zy to find out more about her and Interior Design in Maldives.

How did you become interested in Interior Design? I’ve always been interested in art. When I was in grade 10 at Aminiya School, I saw a TV program about interior design and I was instantly fascinated by it. Since then I had decided that that was the career path for me.

What is your opinion on the Interior Design industry in the Maldives? There was no such thing as Interior Design in the Maldives until about 15 years ago when people slowly started to appreciate beautifully designed, functional spaces and realized the importance of the profession. It started to pick up pace in the past decade with the rising demand for well-designed spaces in tourism and other business sectors. More and more people are g e t t i n g t h e i r o ff i c e s , h o m e s , e t c . , d e s i g n e d b y professional designers. We get clients that want, from small rooms to large resorts, designed and we

accommodate all these because we know and

be different based on these parameters. I like to

understand the importance of designing even a

be bold and whimsical in my designs. What is

small space.

important to me is that the design makes a noise; has character, and brings about an impact and a

Is there a reason why you decided to form your own company rather than work for an established name? What motivates you?

reaction when you see and experience it.

When I started out, there were no firms in Maldives

use the interior space is thoroughly considered and

that really focused on or gave much importance to

translated to carefully applied colors and materials.

Interior Design. All the big firms provided interior

Different colors and juxtaposition of materials can

design services to some extent, but to really make

bring about physical and psychological reactions

an impact on the industry and set the standard I

in a person that is experiencing the space. This

felt that I had to create my own firm. I’ve always

piques their interest and people like to talk about

believed in my abilities and so forming my own design

things they found to be interesting. When people

firm was naturally the only decision I needed to

talk about a designed space, that’s when that design

make. I partnered with my good friend Noona, a

really becomes relevant.

The emotions and senses of the person that will

talented architect, and worked on many interior projects together. Before long we had some good clients and that’s when my husband, Ibrahim - an

What are the main challenges interior designers face in Maldives?

experienced businessman, and I created the company

Oftentimes we find we have much difficulty with

Inside Plus Pvt. Ltd in 2013.

finding the correct supplies and materials, as the availability of interior finishing materials in Maldives

It was always my aspiration to have my own company

is severely limited. We have a few trusted suppliers

and my own brand that would be recognized for

now who work together with us as partners, however

quality of service. Our design services are very

the general supplier backing is not as strong as we

much client focused and service oriented. Our

would like it to be. We have had instances where we

business philosophy is to go above and beyond for

based a design on a locally available material, only

our clients, which is why we get so many repeat

to later find out that there’s no or low stock, forcing

clients.

us to compromise the design or go for a re-design.

What is your design philosophy?

Another challenge we face is the lack of specialized

The location, the function or use, and the client

and skilled interior finishing contractors. A good

helps to establish how a space will be designed

joinery in the Maldives is also severely needed.

and approached. My approach to each project will There are lots of interior designers in the Maldives

but no Int er i or De s i g n A s s o c i a t i o n , w h i c h is a

were passionate about this field and they are now

nec essi t y in the country right now, as a place for

working very well within this industry. Of course it

professionals in this industry to gather, network,

helps to have a degree in interior design or a

learn, and grow.

related field.

What are your personal goals?

W h at w i l l , i n y o u r o p i n i o n , h e l p f u r t h e r t h i s industry in Maldives?

To b e a n a u t h o r i t y o n i n t e r i o r d e s i g n i n t h e Maldives; someon e w h o i s c o n s i d e re d i n f l u e ntia l

Awareness about the importance of creating a functional

i n thi s industry and someone who is looked up to

space that has its own beauty and character.

by young designers. My ultimate goal is to be a world renowned designer someday. Allah Willing I

You don’t need to have a lot of money to improve

will achieve this one day. I have never given up on

your living space and this is something that people

a dream before.

need to know. We have done some projects where we have charged very little to no money based on

In your opinion, is the Interior Design industry in Maldives difficult to penetrate successfully? No. You need to have ambition and a lot of drive. We have had some people who came to work for us that didn’t have the required background but they

their financial circumstances. For us, the most important aspect is the client’s satisfaction. We have many clients coming in with tiny spaces and limited budgets. I think it’s important when giving a service to cater to everyone.

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Wr i tte n b y : M a r i y a m A s i m a

There are few tasks as daunting as that of decorating or redecorating your home. With so many decisions to make and so many options available, it is easy to become overwhelmed. It is also easy to retreat to the familiar and mundane and be left with an end result that looks more like a soulless parody than a home that speaks of our own individualities. Here are a few simple steps to take to get started on turning your house into a home:

P re p a re an ideab ook Before you start decorating, browse around. Go on websites that offer decorating ideas. Get a feel for what exactly you want your home to look like. Create an ‘ideabook’ and fill it with your favorites. Find out what the common features are in terms of style, pattern, colors or objects in the rooms.

Pr ior it iz e Once you have an idea of what you want, make a budget. If you can’t afford to decorate the whole house at once, then prioritize. Pick the room that you are likely to spend the most of your time in, and focus on that one. Once that room is done you can slowly move on to other rooms in the house.

Pla n i t out Next is one of the more fun parts these days, thanks to technology. Draw up a floor plan. There are a lot of websites and apps available that will help you do this. Apps like Home Design 3D or Magic Plan make it a breeze for you to sketch out and visualize your new room.

C hoose your colors One of the most important aesthetic decisions during this time is to pick a color palette. Some prefer building the palette around a statement piece or the flooring. But since this is going to be your home, it is recommended to pick your favorite color or your favorite bit of furniture and build your color scheme around that.

Buy the Bi g Pi e ce s Buy your investment pieces (i.e. Sofas, dining tables.) in neutral colors and accentuate them with accessories (throw pillows, placemats) in bold colors. This way even if you do change up your color palette in the future, you can do so without much additional expenditure.

Acce ssori ze Add your accessories, but remember that more doesnâ&#x20AC;&#x2122;t necessarily equal better. A minimalistic look works well at most modern homes; throw in some strategically placed shelves and add statement pieces that you love, like flowerpots or photo frames. A few well-placed candles will add a splash of vibrancy, and make the room smell lovely as well. Wall decals are also easy to come by and can liven up a lonely piece of wall. As with everything else, the most important thing to take into consideration

when

decorating

your home is to buy the things you

love

and

are

comfortable

with. Show off your personality by breathing your unique style and character into your home, and add more pieces as you go.

ch i n a - m a l d i v e s Wr i tte n b y : A i s h at h S h a h e e n

“Tod ay yo u have m ade our im p ossible dream a reality.”

The bridge, upon completion, will span from Male’s’ southern eastern edge to the western corner of Hulhule’ and will be 1.39km long and 20.3m wide.

Those were the words spoken by President Abdulla

The bridge will accommodate two lanes for

Yameen Abdul Gayoom during his speech thanking

four-wheeled vehicles and separate lanes for bicycles,

President Xi Jinping at the inauguration ceremony

motorcycles, and pedestrians and is estimated to

for the ‘China-Maldives Friendship Bridge’ in 2015.

be completed by mid-2018.

This dream is now fast becoming a reality in front

“The main obje ctive is to e ncourage the fa m ilies liv ing in Male ’ to move to spacious re sid ent ia l are as in H ulhumale ’, whilst e asing t h e conge sting in Male ’.” – Ministry of H ous in g a n d Infrastructure .

of our eyes with the ‘superstructure’ work of the bridge estimated to begin this year and plays a vital role in achieving one of President Yameen’s 2013 key presidential pledge of transforming

Photo Courtesy of Artefficio

Hulhumale’ into an urban ‘Youth City’.

T he b r i d g e i s se e n a s a s o l u t i o n t o overcrowded Male’ where 70% of the po pul a t i on t hr i v e s , a n d c o m m u t i n g for the large number of residents who are employed in Male’ but live in Hulhumale and vice versa, or are employed at Velana International Airport. The daily challenges of commuting on overcrowded and sometimes delayed ferry boats hinder the lives of many locals, especially true during the peak hours of morning and evening, or during tropical rainstorms. The China-Maldives Friendship Bridge will assist the Government’s efforts to persuade the general public and local businesses to move out of the highly

Photo Courtesy of Presidential Office

congested capital city, aided by the transfer of political and industrial activity to Hulhumale’ and the proposed Youth City in the newly reclaimed phase 2 of Hulhumale’ City. The Government hopes that such changes wo u l d t r a nsf or m t h e c o u n t r y i n t o a n economic hub in the Indian Ocean and double the per capita income of the country. (Embassy of Maldives in China, 2016) According to the Minister of Home Affairs, Mr. Azleen Ahmed, the traffic issues faced by Male’ city will reduce by 50 percent once the bridge is opened up to the public.

Photo Courtesy of Presidential Office

The general public sees the bridge as a positive change and many share the view that they would migrate to Hulhumaleâ&#x20AC;&#x2122; once the bridge is complete. The same view is echoed by business e n t i t i e s a s w e l l ; t h e b r i d g e w o u l d e n a b l e t h e m t o g ro w a n d expand their business, resulting in increased revenue and creation of additional job opportunities for the population. The bridge w o uld no t just be a physica l mo numen t of an everlasting friendship between Maldives and China, but would also be an embodiment of an enhanced standard of living for the entire Maldivian population as well.

helium balloon gAS

info@maldivegas.com

Male’ Sales : Boduthakurufaanu Magu, Male’

#02 - 21 STO Trade Centre, Orchid Magu, Male’ 20188, Maldives

Hulhumale’ Sales : Main Road, Hulhumale’

(960) 3005411

Villimale’ Sales : Veshi Magu, Villimale’

(960) 3335615

Production & Engineering : K. Thilafushi

www.maldivegas.com A Subsidiary of

Maldive Gas Safet y a nd Con ven ien ce fo r Daily Livin g

Food and feasting has always been an important part of Maldivian life. Wood burning stoves and ovens were used for what is assumed to be a larger part of a century until the introduction of kerosene stoves. The next step, taken on 3rd October 1999 with the opening of Maldive Gas helped elevate the Maldivian standard of living to a new stature. Before the introduction of gas stoves in the Maldives, the main type of fuel used was, as mentioned before, kerosene. It was widespread throughout the more accessible and progressive islands, while most rural islands still used wood-burning ovens and stoves. The use of kerosene for daily cooking was, however, both expensive and a constant fire hazard. In an effort to make the daily life of the countryâ&#x20AC;&#x2122;s inhabitants easier and safer, Maldive Gas was incorporated as a subsidiary of State Trading Organization and LPG (liquefied petroleum gas) cylinders was introduced.

Liquefied Petroleum Gas There are multiple reasons why LP Gas is the safest, most affordable, accessible and efficient form of fuel to use for daily cooking, heating, water heating, powering of equipment such as engines and even industrial trucks.

Safe: LPG is non-toxic, and in liquid form, the pressure is only twice the pressure of a normal truck tire, making LPG gas extremely safe for domestic use. LPG has an excellent track-record for safety throughout different countries worldwide.

Convenient: LP Gas is stored in liquid form; each unit of the liquid can release the same energy content as 270 units of gas, which means when we use the gas, we are able to use 270 times as much gas as in the container in liquid form.

Portable: Transportation, storage and use of LPG is simple, and the cylinders can be set up and used with gas stoves easily. Maldive Gas also offers cylinders in highly portable sizes for convenient use.

Affordable: LPG is distributed by Maldive Gas at prices that are reasonable to every member of the society. The longevity of storage for LPG, and the ability to convert a high proportion of its energy content into heat also adds to its efficiency and value for money.

Accessible: LPG is transported throughout the country by Maldive Gas in order to allow the entire country ease of accessibility and usage.

Green: LPG has lower emissions than any other fossil fuel measured on a total fuel cycle and can be up to five times more efficient than traditional fuels, making it a cleaner and greener method of utilizing energy.

Lui fulhi Efficiency and Portability Redefined The introduction of â&#x20AC;&#x2DC;Lui fulhiâ&#x20AC;&#x2122; on 22nd September 2014 furthered the efficiency and portability of LP Gas, weighing just 5kg. The cylinder, a product of Norway, is elegant, transparent and non-corrosive. Fire and safety tests conducted on the cylinder in association with MNDF confirmed that the cylinders are non-explosive as well.

Other Avenues Maldive Gas does not restrict itself to the provision of LPG for domestic and commercial use, but also provides medical gas to more than 95% of the hospitals and medical centers around the country. Maldive Gas also provides Industrial Oxygen, Acetylene, Argon and Nitrous Oxide, and has a variety of products for sale including gas and electric stoves, cookers, kitchen hoods and LPG pipes and regulators from world-renowned brands such as Hitachi and Khind.

Wr i tte n b y : R u b a A l i

The Maldives National Building Code 2008: The Maldives National Building Code 2008 is a performance based code which is aimed to provide flexibility in design with the possibility for regular change to the compliance documents and standards it refers to, depending on development in the construction industry. The purpose of the building code is to set performance standards for buildings to ensure that: • People who use buildings can do so safely and without endangering their health; and • Buildings have attributes that contribute appropriately

to the health, physical independence, and wellbeing of the people who use them; and • People who use a building can safely evacuate from the building as and when necessary; and • Buildings are designed, constructed, to enable it to be used in ways that promote sustainable development. The code consists of two general clauses outlining classified building uses and interpretations and 35 technical clauses which cover aspects such as s t r u c t u r a l s t a b i l i t y a n d d u r a b i l i t y, f i re s a f e t y, access, moisture control, safety of users, services and facilities and energy efficiency.

Maldivian Land Act 2002 The Act governs the allocation of Maldivian land for different purposes and uses and other issues regarding the issuing of land, issuing of state dwellings for residential purposes, conduct regarding state dwellings or private dwellings constructed for residential purposes and the sale, transfer and lease of Maldivian Land. All transactions concerning the issuing, receiving, owning, selling, lease, utilizing and using Maldivian land should be conducted in compliance with this Act. In accordance with section 3 of this Act, land shall be allocated for the following purposes and uses. • For the construction of households and buildings for residential purposes. • For commercial use. • For social use. • For environmental protection. • For government use.

engineer are required by law to verify the building plans are in compliance with regulations. The professionals are required to have a minimum number of years of experience with a University degree in architecture/engineering and have to pass a certification exam. 3. What type of inspections are required by law to be carried out during construction, and do legally mandated inspections occur in practice during construction? Mandatory inspections are always conducted in practice and occur at various stages of the building process. 4. What is the process of obtaining a building permit for Male’ City? An application must be submitted to the Malé City Council (Building Approval Section), which approves the architectural and structural drawings. In the case of a building with two or more floors, the City Council also sends the drawings to the Ministry of Construction and Public Infrastructure

Maldives Building Quality Control FAQ via World Bank Group

for its approval. The cost is MVR 2.00 per sqm.

1. How accessible are building laws and regulations?

5. Is a final inspection required by law to verify

Building laws and regulations are available online,

if building was built in accordance to approved

free of charge, including list of required documents,

plans and regulations?

fees to be paid and required preapprovals.

Final Inspection is not required by law.

2. Which third-party entities are required by law

6. Which parties are held liable by law for structural

to verify that the building plans are in compliance

flaws or problems in the building once it is in

with existing building regulations?

use?

According to the Male’ Planning Regulation of

No party held liable under law.

June 11, 2014, a licensed architect and licensed

listing

ONE AVENUE One Avenue, the latest development by DAMAS Real Estate is situated in one of the finest neighborhoods in Hulhumaleâ&#x20AC;&#x2122;. Like a pearl in an oyster, One Avenue stands apart from others - as an embodiment of sophistication infused with practicality. With sublime modernity found in its outer structure, to its impeccable services and emphasis to details; One Avenue will be a benchmark for other residential complexes to look up to.

No. of apartments A total of 95 apartments Damas real estate Marina Building | 8th floor | Koli Umar Manik Goalhi 20188 | Maleâ&#x20AC;&#x2122; T: +(960) 300 2488 +(960) 955 8995 E: sales@dre.mv www.one.com.mv

listing

Aira Your home is a definition of your personality and wellbeing. That’s why, when you live in AIRA you can enjoy all the luxuries and amenities without leaving your home. From our experience with our first project SAIMA Residence and other developments surrounding the beautiful green city of Hulhumale’, we have created AIRA keeping in mind to provide a truly “exceptional living” at the best market value for your investment and living.

No. of apartments A total of 94 apartments Ensis fisheries M1 15-16 Industrial Zone | Hulumalé | Midhilimagu T: +(960) 335 6677 | +(960) 956 6688 | +(960) 797 6688 E: hello@aira.mv www.aira.mv

listing

k park residence Korean designed flooring, spacious interiors, a modern kitchen, master bedroom and luxurious bath. T h e customization options include around 90 options of wardrobes, 50 for both tiles and luxurious s i l k wallpapers and some styles of kitchen cabinets to choose from. Renewable energy generation system for public consumption. Swimming pools, Gym, a CafĂŠ, Day care and Kids play area.

No. of apartments A total of 110 apartments Kordhi investment pvt. ltd M.Omadhoo Fannu | 8th Floor | Maleâ&#x20AC;&#x2122; T: +(960) 999 2492 | +(960) 971 1155 E: marketing@kordhi.net www.kparkresidence.net

listing

Renaatus Ithaa Muiy Guided by technology and expertise, we believe in building quality constructions and architectural masterpieces. Renaatus Ithaa Muiy will mark our debut housing project in the international segment. The new-age construction boasts of all modern amenities and facilities. It is a waterfront property.

No. of apartments A total of 72 apartments R.P.P Renaatus P rojects M aldives P rivate Limited Plot No D6 - 2c | Fithuroanu Magu Hulhumale M: +(960) 975 5777 E: sales.maldives@renaatus.com www.rpprenaatus.mv

listing

nasandhura Nasandhura, the epitome of elegance, prestige and paradise. Build your dream lifestyle with us at Male’s most iconic location, a flourishing metropolis surrounded by a glimmering blue that spreads infinitely. It’s where your wishes of a tropical getaway becomes an everyday reality.

No. of apartments A total of 118 apartments N PH Investment Pvt Ltd 5A, STO Aifaanu Building Boduthakurufaanu Magu | Malé | 20026 T: +(960) 300 2488 E: sales@nph.com.mv www.http://nasandhura.com

listing

Oceanfront Residence Oceanfront Residence is a lavish 13 storey condominium situated in Fithuroanu Magu, Hulhumale. With the breathtaking panoramic view of the ocean it is conveniently located at a five minute walking distance from the Hulhumaleâ&#x20AC;&#x2122; ferry terminal. The condominium contains all the facilities that can provide the best comfort of living to you. The condominium features two infinity pools along with two fully equipped gyms.

No. of apartments A total of 145 apartments rainland developers pvt. ltd G.Maaraana | 2nd Floor | Alikilegefaanu Magu, Maleâ&#x20AC;&#x2122; | 20129 T: +(960) 334 0420 | +(960) 334 0482 E: info@rainland.com.mv www.oceanfrontresidence.com.mv

listing

SEALIFE GLOBAL The Sealife Complex is a community oriented apartment complex housing a variety of facilities. The complex consists of three lots with three blocks each, and two towers in each block. The towers are high-rise buildings up to fourteen floors. The towers are connected from the third floor with a skywalk bridge.

No. of apartments A total of 3000 apartments S E ALIFE GLOBAL IN C. PV T. LT D H. Sifa Building | 4Th Floor | Boduthakurufaanu Magu T: +(960) 334 5005 | +(960) 330 5004 E: info@sealifeglobal.com www.sealifeglobal.com

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